Category : Cryptocurrency

Bitcoin Cryptocurrency Review Wallet

GreenAddress Bitcoin Wallet – Bitcoin Wallet Review

GreenAddress-Bitcoin-Wallet-Review

Yet Another Bitcoin Wallet Review by CoinsIQ

One of the main problems of using Bitcoins is that you are responsible for the safety of your own currency. That is not a centralized security mechanism. That is why you have to always take the extra steps; in order to ensure that you are able to secure the Bitcoins which you own. Moreover, whenever you are choosing the wallets in order to store the Bitcoins; you have to choose them pretty carefully as well.

Different wallets offer different security features. You have to find out which of the features are more important for you. Accordingly, you would choose the electronic wallet. Moreover, when it comes to the Bitcoin wallets; you can choose between the hardware wallets as well as the electronic wallet. You have to look into all of these points and thereafter only you would be able to choose the wallet which is the perfect option for you.

One name which you would often hear about; when it comes to the electronic wallet for Bitcoins is the GreenAddress wallet. If you’re hearing about this wallet for the 1st time; today we would not only debut it but also explain what exactly this wallet is and how you can use it on a consistent basis in order to keep your Bitcoins secure and safe.

GreenAddress-Bitcoin-Wallet-Review

What is GreenAddress wallet?

GreenAddress Bitcoin wallet is an electronic wallet which can keep your Bitcoins completely safe as it is a host of different security features. It also provides you with the 2FA authentication as well. Moreover, it provides you with instant Bitcoin transaction capability. Thus, you would not have to wait for a longer period of time in order to complete the transactions as well. At the same point of time, you need to understand that it provides you with the log of the entire transaction history as well. This makes it much easier for you to view any of the transactions which you have done in the past as well.

Ease of Use

In order to conduct any transactions, 2 keys would be needed. One of the keys is present with the user of the wallet and another key is present with the wallet company that is GreenAddress. One thing however which you have to keep in mind is that you need to take the backup of the keys as well. In between, when the site goes down due to high load, you would have the keys with you which would keep your Bitcoins entirely secure. That is why it is always a better idea to have the keys with you.

As you can see, there is plenty of security features employed by the GreenAddress which makes it much more secure as compared to some of the other electronic Bitcoin wallets.

GreenAddress – Features:

We would now go into some of the features of this wallet in order to help you better understand why you should opt for this wallet rather than some of the others.

  1. Robust security features:

If you’re looking into the security features of this wallet, you would realize that they are much more advanced as compared to some of the other wallet options. The 2 factors security authentication is just one of the 4 security types which are used in the wallet. Thus you can be sure that the security which is incorporated is pretty robust.

  1. Permanent payment address:

Instead of always having a new Bitcoin wallet ID, you have a single permanent address as well. Thus, whenever you want to post that publicly, you need to do is to take the permanent wallet ID and you can post it publicly and receive continuous payments as well. This would make it much easier for you to use the wallet whenever you want. You can even use it for regular buying and selling of Bitcoins as well.

  1. Cross-platform compatibility:

This wallet is not just limited to the smartphones. It can run on the smartphones as well as computers. That is why, the device on which you use it, is entirely up to you. This makes it much easier for you to use the wallet as and when you want. You can even switch between the devices while using the wallet. This ensures that you have to just log into the newer device and you would be able to use it again. Thus, you are not restricted to any kind of devices.

  1. Open source wallet:

The technology behind this wallet is entirely open source. This ensures that more and more development is possible. In fact, there are a wide variety of developers which are currently working for the development of this wallet and to increase the security features to the next level. This ensures that you do not have to worry about security at any point in time whenever you are opting for this particular wallet.

GreenAddress: Wallet setup via Chrome App from GitHub

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Bitcoin Cryptocurrency Earn Bitcoins Guide

The Beginner’s Guide to Bitcoin and the World of Cryptocurrencies

What is Cryptocurrency

What is Cryptocurrency

First things first, what is a Cryptocurrency?

Cryptocurrency is a digital electronic that’s not issued by a government, unlike traditional currencies; but rather created electronically as the generation of cryptocurrency units. The verification of transaction processes is controlled by complex encryption techniques performed by computers instead of a Central authority.

Bitcoin, the first cryptocurrency in the world, was lanuched in 2009 by an anonymous programmer (or group of software developers) who goes by the pseudonym ‘Satoshi Nakamoto’.

In this article we will be talking about Bitcoin; specifically as it is the first cryptocurrency created and #1 in the world of cryptocurrencies.

But first of all, we need to understand what distinguishes bitcoins; (or Cryptocurrencies generally) from conventional currencies and what are their distinctive properties.

So what makes Bitcoin or Cryptocurrency so unique?

Bitcoin is characterized mainly by being digital as it is produced by computers through a process that’s called “Mining”; which involves complex encryption techniques and has no physical properties.

“Bitcoin Mining” is the definition given to the process through which bitcoins are generated and the transactions are added and verified. ”Mining” is performed by special fast computers solving complex mathematical problems; using the appropriate software in order to create or “mine” bitcoins and get rewarded with bitcoins in return.

For each block that is generated the miner is rewarded with 25 bitcoins. This value is halved every four years until all bitcoins are mined (yes the total number of bitcoins to be ever mined is limited).

In the current financial system, central banks along with other political institutions are responsible for controlling and regulating the processes of monetary units generation.

On the other hand, Bitcoin is a decentralized cryptocurrency as the process of its generation is not controlled by any government or central authority. The supply of bitcoins depends solely on the efforts exerted by the miners.

Bitcoin is a virtual currency, as the private keys for your bitcoin addresses (which are used to access your bitcoins) are stored in digital wallets.

So a Digital Wallet is the first thing you need to have in case you want to buy bitcoin. There’s a variety of digital wallets to choose from.

You can have your digital wallet on your desktop or on your mobile or have an online digital wallet, or you can have it as a physical device (which is considered by many to be the safest and most secure storage option.

Another options for bitcoins storage include storing at an Exchange (which offers several services as well like exchanging, sending and receiving bitcoins) and there are many competing Exchanges and wallet providers at the moment so it won’t be difficult to find one nearby.

Bitcoin is a peer to peer currency, meaning Bitcoin operates on a network of user based computers, and the bitcoins are transferred from one party to another across the internet with no 3rd party needed for the transfer process to be completed but the whole network nodes are responsible for monitoring and verifying the transaction process and that is the main idea of the Bitcoin mechanism.

But how does Bitcoin work?

We mentioned before that miners and the connected nodes of the network are responsible for monitoring and digitally regulating the transaction processes that take place between senders and receivers.

And as we know now, bitcoins are stored in digital wallets. Each of these wallets has a unique private key used and known only by the user and a public key which is considered to be the user’s payment address.

In order to understand how transactions work, there are 3 main parameters that are needed to be known and specified for a transaction process to be initiated

  • The address of the bitcoins sender
  • The address of the bitcoins receiver
  • The amount of bitcoins to be transferred from the sender to the receiver

The transaction carries a digital signature that is produced when the private key of the user is mixed with the data he wishes to send in a mathematical algorithm and each transaction has its own digital signature.

When sender “A” decides to send an amount of bitcoins games to receiver ”B” through Internet, the transaction with its data is combined with other requested transactions that are requested at the same time to be recorded in what’s called a “Block”.

Each block has its unique ID, time of the process and a reference to prior block.
The block is then broadcasted to each node in the network.

For a transaction process to take place, all the nodes of the network have to confirm the validity of the process and the authenticity of the digital signature using the public key of the user. This process also prevents
double-spending from taking place making Bitcoin a safe middle of exchange.

Once verified by the nodes of the network, the “Block” representing the transaction is then added to what’s known as the “Blockchain” which is a distributed public ledger shared by all the nodes of the network and functions as a database where all the transactions process are stored.

We can think of a blockchain as a giant ledge containing all the transactions that ever happened. Once a block is added to the blockchain, it cannot be modified nor can it be removed.

“We define an electronic coin as a chain of digital signatures. Each owner transfers the coin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.” – Satoshi Nakamoto

How to acquire bitcoins?

Currently there are two methods to get bitcoins:

1 – Become a “Miner”: which is not recommended if you are a beginner as it requires expensive efficient mining hardware (like FPGAs and GPUs) for the mining process to be profitable because using slow CPUs is not a practical solution at all considering its poor output with respect to time.

Also Read: How to mine Bitcoin?

2 – Buy them: You can buy bitcoins through an Exchange or online by yourself using your fiat money or credit card, but, as we mentioned earlier, you will need a wallet in which your bitcoins can be stored.

At the Exchange, things work the same way they work at Stock Exchange, a buyer offers to purchase an amount of bitcoins with the price that he wants to pay for each bitcoin, and a seller offers to sell an amount of bitcoins with the price at which he wants to sell each bitcoin.

When the price placed by a buyer matches the price placed by a seller a trade takes place automatically.

And this how the price of a bitcoin is determined (At least for now because the number of bitcoins generated is still increasing and will continue to increase till all bitcoins are mined, after that the value of the bitcoin won’t rely really on its Supply but might rely on its Scarcity or on other variables) with the exchanges being responsible for organizing the trades between buyers and sellers and fixing the price of bitcoin according to the supply and demand of the cryptocurrency.

Here’s a list of some famous Bitcoin Exchanges by country:

The United States

  • Bitstamp: recommended because of the low trading fees it imposes on Bitcoin trades
  • Coinbase: one of the top Bitcoin exchanges that offers wide variety of services including: storing, exchange, buying and selling bitcoins and other cryptocurrencies like Litecoin and Ethereum as well. It operates in 32 countries.
  • Cryptsy: platform that offers its services for different cryptocurrencies and not just Bitcoin.
  • Gemini
  • Kraken : operates in the U.S, Canada, the E.U and Japan.

India

  • Zebpay : has applications for Apple devices and Android users
  • Unocoin: India’s leading Bitcoin Exchange which is known for being backed by investors in the United States and Indian investors as well.
  • Coinsecure: an Indian Bitcoin Exchange that is known for its extremely low fees.

China

  • BTCC : the Chinese bitcoin exchange is the world’s second largest bitcoin exchange
  • LakeBTC
  • GateCoin
  • Huobi : enabled Etherium trading recently .
  • OKCoin : operates in many countries worldwide.

Australia

  • CoinJar
  • BuyaBitcoin
  • Coin Loft

To summarize, in order to buy bitcoins you need to:

  • Open an account with the bitcoin exchange you choose. (Make sure you know how much fees the exchange charges for purchases)
  • Fund your account with fiat money or link it with your bank account
  • Place an order

Once your order is fulfilled , you can use your bitcoins

Is there anything else I can do with my bitcoins?

Besides shopping and using them as a long-term investment , Yes! There is!

Peer to Peer Bitcoin lending platforms

Peer to peer bitcoin lending platforms are places for the borrowers to borrow bitcoins and the lenders to lend bitcoins to borrowers at specific interest rates. As the name suggests, these are peer to peer networks; where the files and data are sent to and from nodes; without the need of a central server which provides security to the clients.

Peer to peer bitcoin lending platforms offer lenders relatively high monthly interest rates that range from 3% to 8%.Though Lenders don’t pay fees, however borrowers do (but they are considerably low).

And in case you’re looking for low-risk options, you can open a bitcoin saving account, deposit any amount of bitcoins into your account and earn interests.

Here the three current best peer-to-peer bitcoin lending platforms:

1-Loanbase : Based in San Francisco and launched in 2013; Loanbase is considered to be one of the world’s largest peer to peer bitcoin lending platform. Borrowers and lenders from all over the world meet there to borrow and lend bitcoins.

2- Bitbond : founded by  CEO Radoslav Albrecht, Bitbond is one of the safest peer to peer bitcoin lending platforms. It has facilitated bitcoin loans for more than 1,500,000 USD and has over 80,000 registered users. It has the AutoInvest tool which makes auto-investing easier.

3- BTCPop : Based in the UK, BTCPop is the world’s largest peer-to-peer bitcoin lending platform , it operates in over 60 countries and it is the first Bitcoin bank in the world!

Bitcoin Games

Bitcoins can be used in games and they can be mined too by playing games. There are two types of games that involve the cryptocurrency: Mining games, where you play mobile games, solve puzzles ,  and answer questions to get bitcoins in return,however you don’t really earn that much from mining games but in the end of the day you play games and get bitcoins in return so it doesn’t sound bad!

Here’s a list of the best Bitcoin Faucets

And there are Gambling games and Casino games like Poker,  where you use bitcoins instead of traditional money.

Challenges facing the fast-growing cryptocurrency

Bitcoin and cryptocurrencies  face a number of massive challenges due to their unique characterstics.

Energy Consumption

The biggest challenge with Bitcoin is the extensive energy consumption of Bitcoin mining process. According to Digiconomist, the  amount of energy consumed in Bitcoin mining process combined with the amount of energy consumed in Ethereum mining process exceeds the amount of electricity used by Jordan , Syria, and Iceland all combined. However ,according to researchers, modifications to the PoW systems is one way to reduce high-energy consumption.

Renewable energy sources can be used in the future for the Bitcoin mining process to be more efficient and sustainable.

Limited Supply

Since the mathematics behind  the Bitcoin system limit the number of the bitcoins to be created; the maximum  number of bitcoins to be ever  generated  is fixed (It is said to be around 21 million); which consequently means that the value of bitcoin will eventually rely solely on its demand which in turn depends on several factors  like the trust in the Bitcoin system , the utility  and flexibility of Bitcoin as a currency, the investors , the governments, and the energy needed to keep the system going (which one of the major challenges facing the fast-growing digital currency at the moment ).

By the end of 2009, the year in which the bitcoin was launched, over  1.6 million bitcoins have been generated. The number of generated bitcoins increased dramatically to reach 5 million by 2010. And by 2012 the total number of bitcoins that have been mined reached 10 million.

As of April 2014, the total number of Bitcoin users surpassed 2.5 million with a monthly average growth of  5.46%

The number of merchants,  businesses and retailers who accept bitcoins as payment is increasing as well. According to Overstock.com Inc. board member Jonathan Johnson , the cryptocurrency transactions processed had tripled since the Internet retailer decided to recognize Bitcoin as a method of payment.

Legal Status of Bitcoin

Many governments have serious concerns regarding the anonymity aspect of bitcoin. Despite the fact that each of the transactions that happen in the Bitcoin system  is recorded in a public ledger; the identities and names of buyers and sellers remain secret (except their wallet IDs of course) . While that protects bitcoin users’ privacy, officials are concerned about the possibility that Bitcoin makes money laundry and the transactions in underground economies easier . And unfortunately Bitcoin ,since its creation, has been used widely by criminals to trade illicit goods and fund their illegal activities.

Some  governments are working toward imposing regulations on Bitcoin and the other cryptocurrencies, which in turn strengthen the legitimacy of digital currencies.  While some others adopted an unfriendly attitude towards the fast-growing digital currency. Russia has taken an action against Bitcoin banning the digital currency and the government prohibited individuals and entities from using cryptocurrencies.

The E.U recognizes the cryptocurrency as a convertible currency.  A few days ago, the government of Australia has introduced a bill that would impose regulations on the decentralized global digital currency in an effort to counter money laundering and terrorism funding.  And earlier this year,  Japan recognized Bitcoin as a legal method of payment.

In China ,the country whose mining pools control about 70% of the Bitcoin network’s hashrate, possession and trading of bitcoins by individuals is totally legal, however the government did not impose regulations in favor of  Bitcoin, yet.

For more information about Bitcoin mining in China , check this link.                                                                                     https://www.buybitcoinworldwide.com/mining/china/

In the United States, a congressional hearing was held in November 2013 to discuss the legitimacy of cryptocurrencies including Bitcoin. At the hearing, a federal  judge representing the Department of Justice described the virtual digital currency as a “legal means of exchange”.

In March 2014, the IRS (Internal Revenue Service) which is responsible for collecting taxes released guidance regarding possession of virtual currencies, and the guidance recognized “Bitcoin” as “property”. In July of the same year, the New York State Department of Financial Services imposed regulations in favor of Bitcoin. Bitcoin is accepted as a method of payment by many U.S based retailers and companies; such as: Dell Inc, Overstock.com, WordPress , GYFT and Amazon.

In India, there are many Bitcoin exchanges that operate in the country and Indian authorities are researching  Bitcoins and holding hearings to discuss the future of the legal status of the virtual currency in the country.

According to Sandeep Goenka , the CEO of Zebpay, the number of Indians interested in investing in Bitcoin is increasing rapidly.

The Future of Bitcoin

The 7 years following the creation of Bitcoin proved that cryptocurrencies have the potential to replace traditional currencies; and could be the next big thing of the 21st century. With their values  skyrocketing and rising up after each drop they experience. 2017 was a great year for cryptocurrencies and Bitcoin specifically, as Australia and Japan recognized Bitcoin officially as a method of payment; to impose regulations on the digital currency and the value of promising currency hit an all-time record high climbing above $4500 just a recently.

Bitcoin is still in its infancy and still has a long way to go before it can replace traditional currencies but it did prove that it has the potential to become the future of the financial world.

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Altcoins Cryptocurrency Ethereum Guide

What is Ethereum? A definitive guide to Ethereum

Ethereum (ETH) is a cryptocurrency along with also a block-chain platform using intelligent contract performance.

  

  

  

What is Ether?

Well, Ether is the money of this Ethereum platform. Ether is going to be needed by anyone; wanting to build upon or utilize the Ethereum platform. Exactly like Bitcoin, Ether could be traded round the net and mined. In another few minutes we will show you precisely where you’re able to purchase it. Many individuals use the expression Ethereum to refer to the money rather than Ether and that is why it can become so confusing.

The entire source of ether and its speed of issuance was determined by the contributions accumulated on the 2014 presale of this money. The results were approximately:

  • 60 million Ether made to subscribers of their presale
  • 12 Million (20 percent of the above) were made into the growth finance, the majority of it likely to early subscribers and developers along with the remaining to the Ethereum Foundation
  • 5 Ethers were made every block (approximately 15-17 seconds) into the miner of this chain
  • 2-3 Ethers were sometimes delivered to a different miner whenever they were also able to discover a solution however his block-chain wasn’t included (known as uncle/aunt reward)

Ether-What-is-Ethereum

History

The creators of Ethereum say that Ether isn’t a money as far as its “crypto-fuel; meaning it is a token which has one major usage — to cover the Ethereum platform. This usually means that you likely won’t have the ability to get things with Ether online. However you are still able to exchange it and invest in it in hopes its cost goes up.

Since Ether is significantly less “older” than Bitcoin in the present time, it is less appropriate for non-technical men and women. As an instance, you may download Ether’s official pocket program from github, however there is no “user friendly” version of it. There is also MyEtherWallet and EthereumWallet accessible using a very simple interface.

The simplest way to purchase ETH (i.e. Ether) is via a few of the favorite Bitcoin exchanges which also provide Ethereum.

Purchase Ethereum via Coinbase

The most convenient and most economical way to Purchase Ethereum is Coinbase (if it is available in your state):

Coinbase will market you ETH for a charge of 1.49 percent-3.99 percent based upon your payment method (credit cards have a greater commission than cable transfers).

Purchase Ethereum via Cex.io

CEX.io is a Bitcoin exchange which also sells ETH by means of a charge card. The prices for Ether on CEX.io are already calculated to the market rate; which is why it’ll look higher than other trades. But, CEX.io functions with nations globally (unlike Coinbase).

Purchase ETH on Coinmama

Coinmama is a global vendor of ETH. The website enables you to purchase Ethereum with your credit card and swap rates are rather fair considering the choices. Coinmama is a really reputable exchange that’s been operating from the cryptospace because 2014.

Purchase ETH via Coinhouse

If you reside in the EU (Eurozone) another fantastic alternative may be buying ETH out of Coinhouse. The provider is a Bitcoin and Ethereum agent that started out providing service only to individuals from France and slowly expanded to the remainder of Europe.

Purchase ETH with Hot Cash

Right now there’s not any website like LocalBitcoins to get Ethereum at which you can meet people face to face and purchase Ethereum with Money. But you can purchase BTC with money and then swap it to ETH via Shapeshift or even Poloniex.

Do not need to purchase? You are able to perform day trading also

The concept is that rather than actually purchasing Ethereum that you can just trade it on-line with the current market rate. The CFDs are generally suited to the seasoned traders; and your cash is at risk if doing so. In the minute, Plus500 are the sole firm that provides ETH CFDs.

You can additionally mining them

Mining Ethereum utilizes proof-of-work. It is comparable to Bitcoin mining at a feeling that there’s a diminishing block payoff for each and every block mined.

In case you’ve got a dedicated GPU setup for the job then it’s possible to find some actual rewards. For advice on just how to mine Ether see Ethereum’s official website or on our official website article about it.

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Altcoins Cryptocurrency Guide

What is Dash? A Definitive Guide on Dash and Dash Wallet

What is dash?

The simplest explanation is that it is an altcoin. To understand altcoin, you need to know what cryptocurrency is. Cryptocurrency is an electronic cash/ asset transferred over a secured network to the receiver. If you have been reading our blog post you can skip this part, to those who didn’t, here is a link Bitcoin for Beginners and Dummies.

As stated earlier, a cryptocurrency is transferred over a secured network and this is what is known as Peer to Peer transfer. You must have come across the word Altcoin. What is Altcoin? This is the word used to mean alternative coin. It is used to refer to the other cryptocurrency coins that part them with Bitcoin. Bitcoin is the pioneer of online currency, others have come in to try and deliver unique talents that are set to target specific customers. This is in terms of transaction speeds, privacy, guaranteed return on investment, and automation. So far there are around 600 Altcoins in the market. The most recognized ones are Bitcoin, Ethereum, and Moreno.

What-is-Dash-Dash-Wallets

So, what is Dash?

Enough with the lengthy introduction. What is Dash? Dash is an altcoin that is now becoming a global phenomenon. Since its introduction in 2014 by its developer Evans Duffield, this Altcoin has gained ground and is now becoming one of the fastest growing cryptocurrency. The reason for this relies on its simplicity and security. Its interface is friendly and easy to use, unlike most altcoins. In fact, they say it is so easy to use that your grandmother can use it. you can check their website if you don’t believe me.

Dash has some very interesting background. You see, it first started off as Xcoin before becoming dark coin and then finally being renamed as Dash coin. The reason for this is because of some mistakes committed by its creators that have now become some of its greatest strengths. The first mistake was that in the first two days, around 2 million coins were mined. This is what was then referred to as Instamine. Although riddled with problems, this altcoin has come out of the woods stronger and better than ever before. It has gained traction than any other in the market. It has been rated as one of the fasted growing altcoins in the market. We are going to look keenly exactly why is this.

Reasons for the rise of Dash

Dash has in the recent past grown to expand exponentially. Just like Bitcoin in 2013 and 2014, it has experienced price spikes that have made people millionaires overnight. the price of Dash has moved from an average of around $6 to over $50 at the time of writing this article. This is much higher than most altcoins in the market. In fact, it can only be rivaled by the second most popular altcoin, the Ethereum.

So what are the reasons for this spikes and interest in the coin? This is as a result of various combinations. Most logical ones will be the speculative activity of the traders, sponsors and its unique blend of applications. You see, Dash was in fact designed to resemble the Bitcoin. They use the same block chain and network. However, during the development, they saw it better to make the network as secure as possible. This has resulted in an all new and better version.

Dash Coin Growth – Partners

Also, the altcoin has gained partners that allow the users to pay with Dash coin other than the dollar. The most recent of these is Blockpay. This one deals with the construction business. It might seem less spectacular but construction is a driving force in the United States. Its profits run into the billions per year.
By partnering with Blockpay and the others, it has resulted in spreading of positive reviews of the network together with gaining new users.

Dash Coin Growth – Traders

The other reason we saw was as a result of the speculative nature of the altcoin traders. Before gaining coverage, this coin was trading at $1 or $2. As a result, speculators were gaining a tradition of shorting the stakes. Shorting means borrowing assets at a high price speculating a fall in the price. Speculators borrow when the asset is at a high price, sell it and waiting for a fall in price. When it falls in price, they buy it at the low price and return the asset to the lender. The profit is the difference between the high and the low minus the trading costs.

However, with the recent news of partners, the price started to increase and these speculators saw it best to sell in order to avoid further losses. This increase in selling volume attracted attention. And in any asset market, anything that sells attracts the attention of buyers which result in an increase in the price.

Also Read: How to Buy Bitcoins with Credit Card

What-is-Dash-all-about-Dash-crypto-currency

Why is Dash gaining market attention?

Bitcoin took the world by surprise. The first decentralized cash in which the government had no control. This was received with both relief and criticism. This altcoin tried to make itself as decentralized as possible. However, it had its flaws which some of the people didn’t like.it didn’t have complete anonymity. With the modern advances in Blockchain forensics, most Bitcoin transactions are not an anonymous as they used to be.

Enter the Dash Coin. This cryptocurrency has made some bad ass moves that are geared towards complete anonymity. Currently, this altcoin is one of the most secure networks in the world. The reason for this relies on three distinctive technologies that Dash uses above the other Bitcoin alternatives.

These are the following.

Anonymity

While Bitcoin majorly focuses on the decentralization aspects of the currency, Dash came to work on the security. Dash is built on the core code of Bitcoin but with major improvements. Its inventor saw it wise for the Altcoin to be anonymous so as to be a true cryptocurrency. The reason for this anonymity majorly focuses on the hiding of the transaction records as will be explained in Private Send. The reason for hiding the transaction record is simply to hide the identity of the owner as many can use this for manipulation.

The other reason I have come to understand is that of what most people call Fungibility. In economics, it means the property of a good or a commodity whose units are essentially interchangeable. In cryptocurrency, it would simply mean that the coins or Dash are of the same value. When there is anonymity, no one will be able to devalue the coin for whichever reason especially while purchasing in the Dark Web.

Private send

Sending your stash using the most common altcoins or even Bitcoin can be traced. This is what made Dash go beyond the market standards to come up with a private means. Private send is so far the best in the business. Using this, anyone trying to track you will eventually be limited and frustrated. One trick is when you send your stash, it is broken down into tens and ones which are sent to different miners who in turn send the amount to the right receiver. Another one is which they employ Coinjoin. This mixes different altcoins to the value of the Dash coins sent. However, it has a limit of 1000 Dash. Also, this process is optional to the user and tends to be a bit slower.

Instant send

Initially, it was known as InstantX. This was however rebranded in 2016 to be called Instant Send. This feature allows you to send the Dash almost instantaneously, for 1.5 seconds to be accurate. Bitcoin does the transaction for 10 minutes. However, the is a small fee to be charged when using masternodes.

Masternodes

From the above mentioned Instant Send, you came across masternodes. I bet your first question was why are masternodes charged Higher than usual? You see, unlike Bitcoin where each coin/note is equal, for Dash altcoin, there is a special note, the Masternode. You can hold this for 1000 Dash which acts as a collateral. Masternodes are designed to fulfill a specific function and for Dash, it is for use in private send and Instant Send. Also, it earns a block reward of about 45%. Apart from the collateral, these masternodes do not cost money or effort as they are designed for a specific purpose.

Many altcoins have followed suit and adopted Dash use of masternodes in their networks. There are over 15 altcoins that have adopted this trend. This is because the masternodes act as a means of generating passive income. The common users are Crown, Block, BItsend, Neutron, Pivx, and Renos.

Dash is planning to expand its market share by not only aggressive marketing and but also developing new products. so far this seems to work at least with the introduction of private send and Instant Send. They also have the following products.

Evolution

Dash has come up with a new interface they call Evolution. This they say is for easing up operation for the less technical users. Using evolution, the holder can connect to merchants to make purchases without the technical coding and script writing. Also, people will be able to rate the merchants for future customers to distinguish the good from the bad. This is because they have integrated these merchants with Dash on the Blockchain and there is the need to keep a positive review. Late this year, the Dash altcoin developers want to release the alpha version of Dash Evolution.

Dash Debit Cards

From polls that have been conducted, many people would prefer to use debit cards for daily use. Also, the hindrance of the cryptocurrency adoption to the mainstream market is seen to be the as a result of not being used in the in credit and debit cards. That’s the end of the bad news. Some companies have come forward and offered Dash Acceptable Debit cards that use the most widely recognized trademarks, Visa and MasterCard. These seem to be rising in use since they make fewer cuts and also because the conversion fees to fiat money are usually much lower for travelers who visit different countries.

Self-governance

Dash, unlike the Bitcoin, has self-governance. You see, Bitcoin is funded by parties that might be having self- interests which would go contrary to the main objectives, a good example is any major company where a bunch of millionaires hold the voting rights. In Dash, however, it governs itself. They do this using Dash coins as rewards. By mining new coins, 45% go into the Masternodes (people who have invested 1000 Dash coins), another 45% to the miners and the 10% to the Treasury. By doing this, everybody’s interests are in line with the company’s objectives.

Also, Dash has the program in which they get new ideas from the public. Anyone with an idea of how to improve the cryptocurrency can submit their ideas to the Dash committee who will, in turn, implement them. So far they have been able to implement the idea of opening a You Tube channel that gives you Briefings about the altcoin on a weekly basis. To submit your idea, visit a Dash forum on the website.

Mining Dash

Dash altcoin being new in the industry is relatively easier to mine. This is so because it has an estimated fixed point of 18 million coins while only 7 million have been mined. To get started, you need to know a few basics. First is that Dash mining, unlike Bitcoin, is easier for individuals than for the companies to mine. How is this so especially because Dash uses the Bitcoin core program? Dash uses x11 algorithm which is easier to mine using GPU than CPU. That is, if you have a gaming rig at home, you are in luck. What you need is a wallet and a mining software to get started.

This coupled with the fact that manufacturers haven’t made an x11 hardware to mine Dash makes it relatively profitable. So far from what I have learnt is that this works well while using windows operating system. Also, Dash pays you a basic rate if you are a miner daily. The only thing you need to worry about is the mining software sgminer.exe. when downloaded from dubious sources, it can contain malware which isn’t the best thing you want for your computer.

How to earn Dash online?

Mining is power and labor intensive work. How do else can you make Dash coins? There is a range of answers to choose from but we will concentrate on the proven methods here. If you have a reliable internet connection, you can make free Dash. This you can do by purchasing online wallets and engaging in their affiliate programs. Most of these offer at least 10% of the referral. The other way to earn passive income is by having a Masternode. This, however, requires an investment of about 1000 Dash. The return on this is 45% of the new coins mined which to me seems like a good deal. There is also a less know method that requires little investment of about $50.

Hardware

Purchasing and running a Raspberry Pi. This is a skeleton of a computer that houses a Dash Masternode. The return on investment for this is estimated to be 17% per year. You only need to set it up and connect it to the internet. for power consumption, it can run on the power you use to charge a phone.

 

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Cryptocurrency Guide Trading

Trading Cryptocurrency for Profit and Beginners 2017

trading-cryptocurrency

Crypto currencies are becoming more and more famous over the last few years. This is primarily due to the rise in the value of these crypto currencies. This rise is led by Bitcoins. Now-a-days even people who do not know anything about crypto currencies are thinking about investing in them. The truth is that, if you really want to invest in crypto currencies, you have to 1st get the basics right. Only when you’re able to get these basics right, it becomes easier for you to invest in the cryptocurrencies and make a decent profit.

Today we would share with you some knowledge about cryptocurrencies which would certainly help you in crypto currency investing and getting it right.

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